A firm advertising using an expensive, famous spokesperson is often
A) aimed to raise rivals' costs.
B) used to increase the total market demand.
C) used to steal customers from rivals.
D) used to focus on general problems the product addresses.
C
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The economy is operating at maximum capacity. The short-run AS curve is _______. An increase in the price level will ______ output.
a) horizontal; not change b) horizontal; increase c) vertical; not change d) vertical; increase
The optimal level of pollution occurs where the marginal social benefit is equal to
a. marginal private cost, which equals marginal social cost plus marginal external cost b. marginal social cost, which equals marginal private cost plus marginal external cost c. marginal external cost, which equals marginal private cost plus marginal social cost d. marginal private cost, which equals marginal social cost plus marginal internal cost e. marginal social cost, which equals marginal private cost plus marginal internal cost